Re: Bear Cave 2 (Bull Allowed)
What's next! Watch the video...... It's Amazing in my opinion. We shall have to wait and see if it causes any problems in the next few weeks. Easy money Monday is up next!
Trump administration overrules Jerome Powell and cuts off Fed emergency lending programs
By Rob McLean, CNN Business
Updated 10:10 AM ET, Fri November 20, 2020
New York (CNN Business)US Treasury Secretary Steven Mnuchin has pulled the plug on emergency Federal Reserve lending programs, drawing a rare rebuke from the central bank, which said they are needed to support the economy as the coronavirus pandemic continues to rage.
In a letter sent Thursday to Fed Chairman Jerome Powell, Mnuchin asked the central bank to return some $455 billion in unused funding for programs set to expire December 31. He added that Congress would then be able to use the money for other purposes.
The decision would force several programs to end that were intended to help businesses that have been struggling as the pandemic wreaks havoc on the US economy. The money was set aside in March as part of the CARES Act, a $2 trillion stimulus package meant to prop up the ailing economy by providing financial assistance and loans for distressed companies, among other measures.
https://www.cnn.com/2020/11/19/busin...act/index.html
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” Jesse L. Livermore
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